Across the
board, mixed news flows kept the market volatile last week which ended the week
marginally lower, however, Friday, for the day it closed on robust note.
Prevailing uncertainty will keep the markets volatile and jittery during this
month with a negative bias. Some glimpses of hope were seen in the form of
announcement by the RBI Deputy Governor, taking measures to improve cap-ex in
infrastructure, finance ministry is still very hopeful on GST getting cleared in
the coming session of Parliament, lately some good results declared by
corporate, and crude off late, showing some traction getting stabilised giving
some hope for markets to make a bull case.
Although, there are some positives
but it really needs to be seen how the implementation of 7th Pay
Commission and the Union Budget events unfold and. However, if the above
mentioned positives fail to deliver, since the undertone of the market is
bearish, markets can very easily witness sharp falls.
Technically market
too is poised to take out a sharp rally or may witness spiky slide. In terms of
levels on nifty a close below 7350 would see a retest of this year’s low of
7240 if broken then a capitulation will take the markets way down to 6700 to
6800 the ultimate support for bulls to be hopeful in the long term, on the
other hand if the Nifty manages to surpass 7610 and then 7725 on close basis
that seems a bit difficult than we could perhaps conclude that the worst is
over for the markets. So in the short term one needs to watch out 7350 on the
lower side and 7725 on the higher side both on close basis.
We once again
reiterate and advice investor’s fraternity to show some resilience and invest
at regular intervals in growth stocks particularly those, which are having
least debt leverage and are well governed.
Contact us
Here:
PRAGMATIC WEALTH MANAGEMENT PVT. LTD.
Head Office:
102, 1st Floor, Topaz Society,
Dr. Nair Road, Agripada, Mumbai Central
(E), Mumbai 400011
Tel: +91-8108178683
E-mail: contact@pragmaticwealth.net
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